Posted by Don L on February 5, 2018
Bank Account Bonuses

Published on February 5th, 2018 | by Don L


Collection of Children’s Savings Account Programs (Prosperity Now)

The Resource

The Organization – Prosperity Now (formerly CFED) maintains a map based tool of children’s savings account programs around the country.

Prosperity Now defines Children’s Savings Account (CSA) Programs and Children’s Savings Initiatives in the following way (exact verbiage):

Children’s Savings Account (CSA) Programs

CSA programs provide long-term savings accounts that help children (ages 0-18)—especially low-income children—build savings for their future. CSA programs differ, but they all have three defining features:

  • Incentive structures to grow savings, such as initial seed deposits or savings matches
  • Savings designated for postsecondary education or for purchasing another type of asset (e.g., a house, small business)
  • Incentive funds that are restricted to paying for postsecondary education or another allowable asset

Other Children’s Savings Initiatives

These other types of initiatives help children save but do not have all three of the CSA features listed above. Examples include:

  • A bank at school program that helps children save in accounts for any purpose
  • A conventional 529 college savings account opened by parents for their children that does not provide incentives to grow savings

I haven’t seen this resource pop up in my RSS feeds, so I figured that I would pass it on – on the chance that it might be helpful to you.


  • Presumably only valuable to those with children in their lives,
  • And residing in specific geographic areas.
  • And some programs are gated with income/financial restrictions

So if DoC demographics resemble those of r/churning this post might not be widely applicable to the community.

But I figure as a community we’re united in our attraction to good financial incentives … every day is a great day to start building wealth [prosperity now 🙂 ].  And I’ve found child savings programs to be a treasure trove.  We started listing some child savings bank account outliers (Chevron, DFCU, …) in this post.

If you find any of the programs highlighted in this resource valuable (or are familiar with other child savings targeted programs) we would love to know.

All the Best!



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Sarah E
Sarah E

Have to say, I love DoC, not as off putting as reddit can be (busy single parent here). So. Thanks! I’ll have to look more into this tbh. On that map I didn’t see anything for MN so a quick search just now came up with some silly accounts that have less than 1.5 APY from Capitol One etc. Would definitely be interested in other parent’s thoughts.


Hey Sarah,

Citizens Bank MN has branches in New Ulm, Lakeville and somewhere in between, and has a pretty good youth savings account. Their website is pretty dated, but useable. I have accounts for my kiddos there, and at Navy Federal. The Navy ones were opened during Youth Savings Week, and got some pretty crazy bonuses.

Also, Chevron FCU has a great youth savings account, think it’s 7% up to $1k, and you can join one of their partners for $20 and qualify for membership.


Sarah E
Sarah E

Stevil… thank you so much! Looking into those options! 🙂 I especially love the 21 and younger Chevron FCU option. 7 percent is awesome.. will be telling folks about this. You made my day!


Thanks, DOC!
I didn’t see LGE Credit Union’s (Atlanta area) Child Savings Account on the Savings Account DOC page or the PN map, and it’s pretty nice rate:
-5.00% APY* on the first $500, then the Membership (Base) Savings rate on balances above $500


I didn’t even know children’s savings accounts were a thing. Very helpful. Thanks!


took a quick glance and read half the post title as “collection of children…”


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